Apollon Wealth Management LLC Sells 420 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Apollon Wealth Management LLC trimmed its position in L3Harris Technologies, Inc. (NYSE:LHX) by 2.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 16,832 shares of the company’s stock after selling 420 shares during the period. Apollon Wealth Management LLC’s holdings in L3Harris Technologies were worth $4,004,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its position in shares of L3Harris Technologies by 17.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 43,838 shares of the company’s stock valued at $9,845,000 after acquiring an additional 6,634 shares during the last quarter. Edgestream Partners L.P. raised its stake in shares of L3Harris Technologies by 151.6% during the 1st quarter. Edgestream Partners L.P. now owns 3,859 shares of the company’s stock worth $822,000 after purchasing an additional 2,325 shares during the period. Creative Planning boosted its holdings in shares of L3Harris Technologies by 1.2% in the 3rd quarter. Creative Planning now owns 41,588 shares of the company’s stock worth $9,893,000 after buying an additional 512 shares during the last quarter. Manning & Napier Advisors LLC purchased a new position in shares of L3Harris Technologies in the 2nd quarter worth about $210,886,000. Finally, Janney Montgomery Scott LLC bought a new position in L3Harris Technologies during the third quarter valued at about $35,904,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $261.62 on Wednesday. L3Harris Technologies, Inc. has a 12 month low of $182.01 and a 12 month high of $265.74. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58. The stock has a market cap of $49.62 billion, a P/E ratio of 41.33, a P/E/G ratio of 2.17 and a beta of 0.72. The company has a 50 day moving average of $241.43 and a 200 day moving average of $231.15.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.07. The firm had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.19 earnings per share. As a group, sell-side analysts forecast that L3Harris Technologies, Inc. will post 13.09 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be given a dividend of $1.16 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.77%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 73.30%.

Analyst Upgrades and Downgrades

LHX has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft dropped their target price on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Barclays upped their price objective on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Bank of America raised L3Harris Technologies from a “neutral” rating to a “buy” rating and raised their target price for the stock from $240.00 to $300.00 in a research report on Thursday, October 31st. Wells Fargo & Company upped their price target on L3Harris Technologies from $260.00 to $295.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Finally, Royal Bank of Canada lifted their price objective on L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $267.50.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total value of $731,103.84. Following the sale, the insider now directly owns 13,328 shares of the company’s stock, valued at $3,261,095.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 8,964 shares of company stock valued at $2,179,119. 0.82% of the stock is owned by corporate insiders.

About L3Harris Technologies

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.